Private sector takes over as growth driverTHE Malaysian economy is projected to grow by between 5% and 6% in 2011, spurred by domestic demand as the private sector takes over as the driver of growth. Private investment activity, which turned positive in 2010, is envisaged to contribute significantly to economic growth. The idea of the private sector leading growth stems from the start of 52 private finance initiatives (PFI) over the 10th Malaysia Plan (10MP) period as well as the implementation of private sector projects under the National Key Economic Areas (NKEAs). Domestic demand is expected to grow by 5.8% in 2011 compared with 6.9% in 2010 which would be supported by greater dynamism of the private sector with expenditure accelerating by 7%. With various measures taken to enhance competitiveness and productivity, growth will be driven by private investment which is seen to be expanding by 10.2% in 2011 compared with 15.2% in 2010. Aiding growth in private investment would also be public-private partnerships as well as the RM20bil Facilitation Fund under the 10MP. Low unemployment and growth in household income are expected to boost private consumption, while higher commodity prices, which the country is relying more on these days, would spur rural household spending next year. .

Private consumption is expected to grow by 6.3% in 2011 from 6.7% last year. As the private sector activity ramps up, the public sector expenditure is expected to moderate, which is in line with the policy of slowly cutting back the fiscal deficit. Public expenditure is expected to grow at a slower pace of 2.8% from 3.8% in 2010. Public investment is anticipated to expand slightly by 0.6% from 8.3% in 2010 and public consumption by 4.6% from 0.2% in 2010. Positive contribution to the economy is also anticipated from the supply side of the economy as all sectors of the economy is projected to show growth with the services sector remaining as the...

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...﻿EconomicGrowthEconomicgrowth is the percentage increase in real national output in a given time period or the increase in the productive potential of the economy. Countries grwo at different rates, this is partly due to the fact that they are at different stages of their economic cycle. The economicgrowth for the UK is at 0.2%.
The main measure of output is gross domestic product (GDP). GDP is the total value of goods and services produced in an economy during one year. Economicgrowth can be be measured in nominal terms which include inflation, or real terms which are adjusted for inflation.
Aggregate supply is the total supply of goods and services that are produced in an economy at a given price level
DRAW GRAPGH (AS DIAGRAM)
Aggregate demand is the total output of goods and services produced in the economy ocer a period of time
AD = C+I+G+(X-M)
C referes to consumer spending on goods and services, it includes durable and non durable goods. I refers to investment spending, demand for goods and services by the firm. G refers to government spending on publicyly provided goods and services including public and merit goods. Transfer payments are not included. X refers to exports of goods and services which is spending from abroad on an economy’s goods and services. Exports are inflow of demand in the circular flow of income...

...INTRODUCTION
We live in an era of unprecedented frequency of change in partisan
control of government. Since at least 1994, neither of the United
States’ two main political parties can be said to have had a lock on
control of the House, the Senate, or the presidency.
Incredibly, the seven elections from 1998 to 2010 produced six
different combinations of party control: a Democratic president with a
Republican Congress (1998), a Republican president with a divided
Congress (2000), a Republican president with a Republican
Congress (2002, 2004), a Republican president with a Democratic
Congress (2006), a Democratic president with a Democratic
Congress (2008), and a Democratic president with a divided
Congress (2010).
Earned Income
60
50
40
UR
UD
Div1
Div2
30
20
10
0
1
2
3
4
Revenues
3,000.0
2,500.0
2,000.0
UR
UD
Div1
Div2
1,500.0
1,000.0
500.0
0.0
1
2
3
4
Part D (ENTITLEMENTS)
900.00
800.00
700.00
600.00
500.00
400.00
300.00
200.00
100.00
0.00
1
2
3
4
Education
800.00
700.00
600.00
500.00
UR
UD
Div1
Div2
400.00
300.00
200.00
100.00
0.00
1
2
3
4
CONCLUSION
Chronically from the oldest to the recent, there
were no overwhelming years based on the
difference between the two parties.
...

...MalaysiaEconomicGrowth
At independence from the UK in 1957, Malaysia had a population of just 7.4 million. Its population has since grown swiftly. 2005 the country had around 26.8 million people and the current estimation is that it will rise by 2010 to around 29 million. Before Independence, Malaysia was a low‐income economy. Business enterprises were small scale, largely localized, and primarily family‐based. Over time, the economy has diversified beyond agriculture and primary commodities, such that manufactured goods show account for a larger share of GDP and total exports.
Since 1970, Malaysia has based its economic development strategy on three long‐term policies: the New Economic Policy (NEP), 1970–90, the National Development Policy (NDP), 1990–2000, and the National Vision Policy (NVP),2001‐2010. Although the emphasis in these long‐term development policies has always been on economicgrowth, Malaysian development intends to benefit all groups or communities in society in an equitable manner. The overriding objective of the NEP, maintained in the NDP and the NVP, was to preserve national unity by eradicating poverty irrespective of race, and by restructuring Malaysian society to reduce the identification of race with economic function and geographical location. Growth with equity continues...

...General Certificate of Education Ordinary Level
MARK SCHEME for the June 2004 question papers
2281 ECONOMICS
2281/01 2281/01 Paper 1 (Multiple Choice), maximum raw mark 40 Paper 2 (Structured Questions), maximum raw mark 80
These mark schemes are published as an aid to teachers and students, to indicate the requirements of the examination. They show the basis on which Examiners were initially instructed to award marks. They do not indicate the details of the discussions that took place at an Examiners’ meeting before marking began. Any substantial changes to the mark scheme that arose from these discussions will be recorded in the published Report on the Examination. All Examiners are instructed that alternative correct answers and unexpected approaches in candidates’ scripts must be given marks that fairly reflect the relevant knowledge and skills demonstrated. Mark schemes must be read in conjunction with the question papers and the Report on the Examination.
•
CIE will not enter into discussion or correspondence in connection with these mark schemes.
CIE is publishing the mark schemes for the June 2004 question papers for most IGCSE and GCE Advanced Level syllabuses.
June 2004
GCE ORDINARY LEVEL
MARKING SCHEME MAXIMUM MARK: 80
SYLLABUS/COMPONENT: 2281/01 Economics Paper 1
Page 1 Question Number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Mark Scheme ECONOMICS – JUNE 2004 Key B D C D C A D C C C B B C D C C C...

...﻿China’s EconomicGrowth and Development
China is presently the world’s largest economy in relation to its population of 1.3 billion. The country is currently a socialist economy ruled by a Communist Government, with significant structural changes impacting its economy as a result of the high rate of growth over the past decades. Its economy is in the transition phase, moving from being a centrally planned economy to a system based more on the market. A socialist or market economy can be defined as an economic system based on government ownership of key resources which are crucial to the economy, rather than the individual taking ownership. There are; however, exceptions to this, such as permitting the partial use of markets to exchange dispensable commodities, such as farm products and retail goods. It is hypothesised that China’s economic and social transformation - lead by sustained economicgrowth – has significantly impacted upon the distribution of wealth and income in China by means of an improved standard of living. This is evident in China’s Human Development Index (HDI), and can be supported by statistics from during this period, data dating from 1978 onwards relating to China’s steady climb, as well as evidence from the Great Leap Forward. China’s economicgrowth continues today, through the continual developmental process leading to a...

...poverty line and more than 10% live in extreme poverty, on less than $1.25 (15.85) per day.
What is economicgrowth?
Economicgrowth is an increase in the production and consumption of goods and services. It entails increasing population and/or per capita consumption. It is indicated by the monetary value of all the finished goods and services produced within a country’s borders in a specific time period, which is called the GDP (Gross Domestic Products). Economicgrowth literally refers to an economy that is getting bigger, not necessarily one that is getting better.
The effect of economicsgrowth on a community
The economy is a subset of the ecosystems that contain it. This fact is overlooked in business and economics textbooks, where the ecosystem is viewed as a subsystem of the economy, and the economy itself is portrayed as a circular flow of money between firms and households. The production of goods and services entails the conversion of natural resources, or “natural capital,” into consumer goods and manufactured capital. This explains why there is a fundamental conflict between economicgrowth and conservation of natural resources. Growing the economy means shrinking the ecosystem. Furthermore, pollution is an inevitable byproduct of economic production. The degradation of the environment as a...

...﻿ECONOMICGROWTH is the long term expansion of a country’s productive potential
Short term growth is measured by the annual % change in real national output – this is mainly driven by the level of aggregate demand (C+I+G+X-M) but is also affected by shifts in SRAS
Long term growth is shown by the increase in trend or potential GDP and this is illustrated by an outward shift in a country’s long run aggregate supply curve (LRAS)
Key drivers of growth
There have been numerous research studies in what determines long term GDP growth
Every country is different, each factor will vary in importance for a country at a given point in time
Advantages of EconomicGrowth
1. Higher living standards – i.e. an increase in real income per head of population
2. Employment effects - growth stimulates more jobs to help new people as they enter the labour market
3. Investment - the accelerator effect - rising demand and output encourages investment – this sustains growth by increasing long run aggregate supply
4. Consumer and business confidence - growth has a positive impact on business profits & confidence. A stronger economy will help to persuade consumers that the time is right to make major purchases
5. Growth can also help protect the environment such as low-carbon investment, innovation andresearch and...